Bulletin
Investor Alert

New York Markets Close in:

Market Pulse Archives

July 6, 2020, 9:36 a.m. EDT

Dow surges 370 points, Nasdaq touches a record intraday high as U.S. stock market follows China's rally on Monday

new
Watchlist Relevance
LEARN MORE

Want to see how this story relates to your watchlist?

Just add items to create a watchlist now:

  • X
    Dow Jones Industrial Average (DJIA)
  • X
    S&P 500 Index (SPX)
  • X
    NASDAQ Composite Index (COMP)

or Cancel Already have a watchlist? Log In

By Mark DeCambre

U.S. stock benchmarks surged early Monday to kick off the first full week of trade in July, with investors pegging at least part of the bullishness emanating from Wall Street to a powerful rally in China. However, Monday's upbeat mood in the market contrasts with a continuing spike in cases of coronavirus in the U.S. The Dow Jones Industrial Average /zigman2/quotes/210598065/realtime DJIA +0.91% rose 370 points, or 1.4%, at 26,187, the S&P 500 index /zigman2/quotes/210599714/realtime SPX +1.45% gained 1.4% at 3,172, while the Nasdaq Composite Index /zigman2/quotes/210598365/realtime COMP +2.22% advanced 1.5% to a record intraday high at 10,369.05. A front-page editorial in state-owned paper, China Securities Journal, said fostering a "healthy bull market" is important, according to a translation, helping to propel China markets higher and rippling though the global market. The climb in U.S. stocks come amid more than 49,000 new cases on Sunday in the U.S., according to data compiled by Johns Hopkins University. Beyond the rise in infections, the optimism reflected in equities on Monday also comes as economists at Goldman Sachs led by Jan Hatzius lowered their forecast for gross domestic growth for a contraction in 2020 of 4.6%, versus a previous forecast for a 4.2% drop in economic growth

/zigman2/quotes/210598065/realtime
US : Dow Jones Global
27,939.66
+252.75 +0.91%
Volume: 159.93M
Aug. 12, 2020 12:30p
loading...
/zigman2/quotes/210599714/realtime
US : S&P US
3,382.05
+48.36 +1.45%
Volume: 1.04B
Aug. 12, 2020 12:30p
loading...
/zigman2/quotes/210598365/realtime
US : U.S.: Nasdaq
11,022.18
+239.35 +2.22%
Volume: 1.85M
Aug. 12, 2020 12:30p
loading...

This Story has 0 Comments
Be the first to comment
More News In
Markets

Story Conversation

Commenting FAQs »
Link to MarketWatch's Slice.